Sigma Investment Counselors Inc. Lowers Stock Holdings in Stryker Co. (NYSE:SYK)

Sigma Investment Counselors Inc. cut its stake in shares of Stryker Co. (NYSE:SYK) by 0.3% during the third quarter, HoldingsChannel.com reports. The fund owned 41,928 shares of the medical technology company’s stock after selling 129 shares during the quarter. Stryker makes up approximately 0.7% of Sigma Investment Counselors Inc.’s investment portfolio, making the stock its 25th biggest holding. Sigma Investment Counselors Inc.’s holdings in Stryker were worth $15,147,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Trueblood Wealth Management LLC increased its stake in shares of Stryker by 7.6% during the third quarter. Trueblood Wealth Management LLC now owns 2,841 shares of the medical technology company’s stock valued at $1,026,000 after buying an additional 200 shares during the period. Tandem Capital Management Corp ADV grew its holdings in Stryker by 1.3% during the 3rd quarter. Tandem Capital Management Corp ADV now owns 16,390 shares of the medical technology company’s stock worth $5,865,000 after acquiring an additional 213 shares in the last quarter. West Michigan Advisors LLC grew its holdings in Stryker by 2.2% during the 3rd quarter. West Michigan Advisors LLC now owns 8,573 shares of the medical technology company’s stock worth $3,104,000 after acquiring an additional 183 shares in the last quarter. Harbour Trust & Investment Management Co increased its position in Stryker by 1.8% during the 3rd quarter. Harbour Trust & Investment Management Co now owns 42,347 shares of the medical technology company’s stock valued at $15,298,000 after purchasing an additional 736 shares during the period. Finally, Nicholson Wealth Management Group LLC bought a new stake in shares of Stryker in the 3rd quarter valued at about $993,000. Institutional investors own 77.09% of the company’s stock.

Stryker Price Performance

Shares of NYSE SYK opened at $352.82 on Friday. Stryker Co. has a 52 week low of $255.22 and a 52 week high of $374.63. The company has a quick ratio of 0.95, a current ratio of 1.68 and a debt-to-equity ratio of 0.51. The firm has a market cap of $134.41 billion, a P/E ratio of 40.28, a P/E/G ratio of 2.83 and a beta of 0.91. The business’s 50 day moving average price is $358.50 and its 200 day moving average price is $343.70.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates of $2.79 by $0.02. The firm had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.54 earnings per share. On average, sell-side analysts expect that Stryker Co. will post 12 earnings per share for the current year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be issued a $0.80 dividend. The ex-dividend date is Monday, September 30th. This represents a $3.20 annualized dividend and a dividend yield of 0.91%. Stryker’s dividend payout ratio (DPR) is presently 36.53%.

Insider Transactions at Stryker

In related news, CFO Glenn S. Boehnlein sold 20,000 shares of Stryker stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the completion of the transaction, the chief financial officer now directly owns 2,852 shares in the company, valued at approximately $949,716. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Glenn S. Boehnlein sold 20,000 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the sale, the chief financial officer now directly owns 2,852 shares of the company’s stock, valued at approximately $949,716. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP M Kathryn Fink sold 2,121 shares of Stryker stock in a transaction on Friday, September 13th. The shares were sold at an average price of $370.00, for a total transaction of $784,770.00. Following the completion of the transaction, the vice president now directly owns 10,042 shares of the company’s stock, valued at $3,715,540. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 220,068 shares of company stock worth $71,811,372 over the last quarter. 5.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Stifel Nicolaus cut their price objective on shares of Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Truist Financial lifted their price target on Stryker from $345.00 to $370.00 and gave the company a “hold” rating in a report on Monday, October 14th. Evercore ISI upped their price objective on Stryker from $365.00 to $380.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Morgan Stanley raised their price objective on Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a research report on Monday, July 15th. Finally, Wolfe Research began coverage on shares of Stryker in a research report on Tuesday, September 10th. They set an “outperform” rating and a $405.00 price target for the company. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $381.16.

About Stryker

Stryker Corporation operates as a medical technology company. The company operates through two segments, MedSurg and Neurotechnology, and Orthopaedics and Spine. The Orthopaedics and Spine segment provides implants for use in total joint replacements, such as hip, knee and shoulder, and trauma and extremities surgeries.